DIpil Das
The US
2022 Major US Store Closures and Openings
This week, we discuss store-count updates for Big 5 Sporting Goods, Boot Barn, J.Crew, Love’s Travel Stops, Murphy Express, Prada, Sheetz, Sleep Number and Steve Madden. In light of these updates, our 2022 US store closures and openings counts stand at 1,960 and 4,487, respectively.
The charts below depict the week-by-week totals of US store closures and openings year to date in 2022 and 2021. For year-over-year comparisons, we are comparing closures and openings up to week 30 of 2022 and 2021, ended July 29, 2022, and July 30, 2021, respectively. Year to date in 2022, major US retailers have announced 2.9% more openings and 57.4% fewer closures compared to the same time last year.
2022 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=490]
2021 US Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=491]
Coresight Research periodically updates the count for openings and closures when there are new updates or revisions to previous announcements from companies, and this could involve retrospective revisions of totals for some weeks. Source: Company reports/Coresight Research
What Is Happening This Week in the US
J.Crew To Open One Store
Apparel retailer J.Crew plans to open one store in Lyndhurst, Ohio in fall 2022. The store opening will take the company’s store count to 127.
Quarterly Store Openings/Closures Settlement
Big 5 Sporting Goods Provides Store-Count Update
Sporting goods retailer Big 5 Sporting Goods opened five and closed two stores in 2021 and plans to open three and close two stores by the end of its fiscal year in early January 2023. The company operates 431 stores in the US as of July 3, 2022.
Boot Barn Provides Store-Count Update
Footwear retailer Boot Barn opened an estimated 25 and closed one store in 2021 and has opened an estimated 18 stores so far in 2022. The company operates 311 stores as of August 3, 2022.
Love’s Travel Stops Provides Store-Count Update
Convenience store chain Love’s Travel Stops has opened 16 stores so far in 2022. The company operates 670 stores as of August 3, 2022.
Murphy USA Provides Store-Count Update
Convenience store chain Murphy USA opened nine stores in its second quarter, ended June 30, 2022, taking the company’s 2022 openings count to 15. The company operates 1,536 stores as of June 30, 2022.
Prada Provides Store-Count Update Luxury brand Prada closed three stores in the year ended December 31, 2021. The company operates 105 stores in the US as of August 3, 2022.
Sheetz Provides Store-Count Update
Convenience store chain Sheetz has opened eight stores so far in 2022 and plans to open 50 stores within five years, of which we estimate three will fall in 2022, taking the company’s opening count to 11. The company operates 657 stores as of August 3, 2022.
Sleep Number Provides Store-Count Update
Mattress retailer Sleep Number opened 10 and closed four stores in its second quarter, ended July 2, 2022, taking the company’s 2022 openings and closure counts to 23 and 12, respectively. The company operates 659 stores as of July 2, 2022.
Steve Madden Provides Store-Count Update
Footwear brand Steve Madden opened eight and closed five stores in 2021 and has closed one store so far in 2022. The company operates 213 stores as of June 30, 2022.
Non-Store-Closure News
Hy-Vee Appoints New Chief Executive Officer
Grocery retailer Hy-Vee appointed Aaron Wiese as its new CEO, effective October 1, 2022. Wiese joined the company in 1993 and is currently serving as Vice Chairman and President of Supply Chain and Subsidiaries. Wiese will succeed Randy Edeker.
2022 Major US Store Closures and Openings [caption id="attachment_153171" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. *Estimated store closures
**Total includes a small number of retailers that each announced fewer than three store closures and are not included in the chart
†Figures pertain to North America closures
Source: Company reports/Coresight Research [/caption] [caption id="attachment_153172" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. *Estimated store openings
**Total includes a small number of retailers that each announced fewer than 15 store openings and are not included in the chart
†Figures pertain to North America closures
Amazon includes Amazon fresh, Amazon Go and Amazon Style banners. TJX Companies includes HomeGoods, Homesense and Marmaxx (T.J. Maxx, Marshalls and Sierra) stores.
Source: Company reports/Coresight Research [/caption]
2022 Major US Uncharted Openings and Closures
The table below details announced openings and closures not included in our US totals above, as the companies did not provide details on timing or location.
[wpdatatable id=2157]Source: Company reports/Coresight Research
This week saw updates for Big 5 Sporting Goods, Boot Barn, Prada and Steve Madden, which changed our 2021 openings and closure counts to 5,068 and 5,228, respectively. 2021 Major US Store Closures and Openings [caption id="attachment_153174" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. *Estimated store closures
**Total includes a small number of retailers that each announced fewer than 15 store closures and are not included in the chart
†Figures pertain to North America closures
Ascena Retail Group includes Ann Taylor, Catherines, Justice, Lane Bryant, LOFT and Lou & Grey. Family Video, which operates primarily under a rental business model, is included in the chart since it also retails certain products and for comprehensiveness, given that its outlets would commonly be perceived as retail stores. Macy’s includes Bloomingdale’s, Bluemercury and Macy’s banners. Tapestry includes Coach, Kate Spade and Stuart Weitzman stores.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_153175" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. *Estimated store openings **Total includes a small number of retailers that each announced fewer than 17 store openings and are not included in the chart
†Figures pertain to North America closures
Aerie includes Aerie stores and OFFLINE stores. Amazon includes Amazon Fresh and Amazon Go stores. TJX Companies includes HomeGoods, Homesense, Marmaxx (T.J. Maxx, Marshalls and Sierra) stores.
Source: Company reports/Coresight Research [/caption] 2022 Major US Retail Bankruptcies [wpdatatable id=2158]
Source: Company reports/Coresight Research
2021 Major US Retail Bankruptcies [wpdatatable id=2159]N/A – Not Available *Belk emerged from bankruptcy in February 2021 **The Collected Group emerged from bankruptcy in June 2021 ***Global Brands Group began winding down its business in November 2021 Source: Company reports/Coresight Research
The UK
2022 Major UK Store Closures and Openings
This week, we discuss store updates for Beaverbrooks, JD Sports, Joules, Shoe Zone, Superdry and TK Maxx. In light of these updates, our 2022 UK store closures and openings counts stand at 458 and 857, respectively.
The charts below depict the week-by-week totals of UK store closures and openings year to date in 2022 and 2021. For year-over-year comparisons, we are comparing closures and openings up to week 31 of 2022 and 2021, ended August 5, 2022, and August 6, 2021, respectively. Year to date in 2022, major UK retailers have announced 0.2% more openings and 68.5% fewer closures compared to the same time last year.
2022 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=493]
2021 UK Announced Store Closures and Openings: Week-by-Week Comparison [wpdatachart id=492]
Coresight Research periodically updates the count for openings and closures when there are new updates or revisions to previous announcements from companies, and this could involve retrospective revisions of totals for some weeks. Source: Company reports/Coresight Research
What Is Happening This Week in the UK
BeaverBrooks To Open Two Stores
Jewelry retailer BeaverBrooks opened one store in Milton Keynes on June 14, 2022, and will open one store in the Grand Arcade, Cambridge by the end of 2022. The store openings will take the company’s store count to 72.
JD Sports To Open Two Stores
Sporting goods retailer JD Sports plans to open one store in the Grand Arcade, Cambridge, and one in the Trafford Centre, Manchester, by the end of 2022. The company operates 399 stores in the UK as of August 3, 2022.
Joules To Close One Store
Apparel retailer Joules plans to close one in Derby City Centre, Derby, on September 1, 2022. The store closure will take the company’s store count to 134.
Shoe Zone To Open One Store
Shoe retailer Shoe Zone plans to close one store in The Octagon Shopping Centre, Burton, by the end of 2022. The store closure will take the company’s store count to 364.
Superdry To Open One Store
Apparel retailer Superdry plans to open one store in the O2 Shopping Centre, London, by the end of August 2022. The store opening will take the company’s store count to 95.
TK Maxx To Open One Store
Off-price retailer TK Maxx opened one store in Manning Retail Park, Swindon, on July 28, 2022. The store opening takes the company’s store count to 354.
Non-Store-Closure News
Poundstretcher Appoints New Chief Executive Officer
Discount retailer Poundstretcher appointed Derek Lawlor as its new CEO effective August 1, 2022. Lawlor most recently served as Senior Vice President of Food and General Merchandise at Asda. Lawlor succeeds Aziz Tayub, who moved to a new role as Chairman at Asda on August 1, 2022.
[caption id="attachment_153176" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. *Estimated store closures
Frasers Group includes Flannels, House of Fraser, Jack Wills and Sports Direct banners. Tesco includes Tesco, One Stop, Booker and Jack’s banners.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_153177" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. *Estimated store openings
**Total includes a small number of retailers that each announced fewer than three store openings and are not included in the chart
Fraser Group includes Flannels, House of Fraser, Jack Wills and Sports Direct banners. Tesco includes Tesco, One Stop and Booker banners.
Source: Company reports/Coresight Research [/caption] This week saw an update for Co-op, which took the UK 2021 openings counts to 1,214. [caption id="attachment_153178" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. *Estimated store closures
Frasers Group includes Flannels, House of Fraser, Jack Wills and Sports Direct banners. Gap includes Republic of Ireland. McColl’s includes convenience stores and newsagents. Tesco includes Tesco, One Stop, Booker and Jack’s banners.
Source: Company reports/Coresight Research [/caption] [caption id="attachment_153179" align="aligncenter" width="700"]
Coresight Research attributes store openings and closures to the year in which they occurred or are expected to occur. *Estimated store openings
**Total includes a small number of retailers that each announced fewer than four store openings and are not included in the chart
Frasers Group includes Flannels, House of Fraser, Jack Wills and Sports Direct banners. Tesco includes Tesco, One Stop, Booker and Jack’s banners.
Source: Company reports/Coresight Research [/caption]
Notes
Figures represent store openings and closures that occurred, or are expected to occur, in the respective calendar years. For some retailers, store opening and closure numbers are estimated, including from part-year data, global figures or announced closure/opening programs that span multiple years. Estimates are updated as companies announce details. Figures for openings and closures are gross. Figures represent B2C retail closures, so closures by solely B2B companies are excluded. The deadline for inclusion in each weekly report (published on Fridays) is typically the preceding Wednesday.